New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1887-06-14
MONDAY, Juno 1872. NJ.

MONDAY, Juno 13-P NJ.
To-days stock market developed no new features 1t
was dull and by the figures recorded it was weak. The
active eaders of the speculation who for four months
had worked for depression OF values through tho en-
poyment OF brokers' took early possession OF the
market and turned it into sort OF Donnybrook Fair.
where the rulo was: "when You see head,
hit it" So to-day, wherever 1t was
discovered that there only limited amount Of pur
chasing ORDERS after supplying those the offerings to sell
by the thousand shares till point was reached
where purchasing orders appeared BY this method
the Of high class OF stocks attacked North
western declined from 1885, Saturday the first price
this morning was 1928 TO 12lio while St Paul,
which last week tho objective point OF the New
England and Delaware, Lackawanna ana Western
combine" declined only from 91as to 007sa91. The
same heroics last week sold the stock at o0i2 Lake
Shore off IS per TO 97le small transactions
and the "hangers-o OF the supposed manipulation OF
the coal stocks ESQ O'Clock behind the rail were offering
bets that would sell at 81 before o'clock That
the intention of tho bear clique is shownby tho
way that on the gcurb" In London the stock was
offered down per below the London Board quota
tons that is to say it was so quoted by tho
Especial" cables given TO the street We are not vouch
ing that the quotations ever went under the Atlantic
The operations in New-York and New England fully
illustrated the animus embraced In to-days dealings
That stock rapidly marked down from 57a to 56as
and it closed at 56as Below 81 the buying does not
promise large profits the minority of the companys
Executive Committee Wheeling aud Lake Erie was
severely attacked and marked from CT L down TO 59d
CO. because the leaders imagine that Mr. Conner,
who has sailed for Europe, carries the property In
his pocket. He does nothing OF the kind. but
like any other ordinary OPERATOR has made money
out OF its recent advance 10 Goa62 Erie was n
special object of attack and far successful as to
reduce its quotation as per cent and 1t closed at 81
only l, below Saturdays figures Preparations for
days raids the market made by the publication
yesterday aud this morning OF numerous articles which
point OF possible disasters, which parallel
OF the suggestion TO picnic starting out for days
pleasure at the latter end OF June, that 1t might be
caught by thunder shower. Desperate efforts were
made TO break tho market The results. considering
that there is no organized "bull" party in the
market, are Insignificant than they have
proved TO be any previous efforts The
"bears" last week sold St Paul at 0OIq; to-day
COS its lowest price There is Significance the
temporary marking OF rates for call loans UP 10 10
cent part the manipulation OF the stock market
and required hour aud half OF patient waiting for
the opportunity TO do IT. To-day IL asserted that the
First National Bank favorable to tight money and
had the power mako 1t We do not accept the state
only far any lOaner Of money DESTROYS of OBJ
tanning high rates possible But the First National
Bank backed by its argc country deposits and its large
speculative centage cannot the money market
NeWYork BY It's last Saturdays statement, It's loans
S2O3lo3OO its deposits fully 70 per cent country
deposits upon which 1t allows interestwere SI977isOO
It's specie was 100000; its legal-tenders
were 1871 900; its total reserve Sj02l, 500:
or trne over 90 per cent A National bank In that
condition will require combine with other financial
institutions before it undertakes TO control the loan mar
ket OF NewYork. True it could call In all its call loans
and lock money up but 1t dare not do It, There
other banks in the city which could do that with less risk
than the First National would assume In such opera
ton. Its anes with certain large Spectators are As
well understood in the Street in It's parlor. The mar
ket OF the day. OF course, bear" one The new
tactics seem TO DO to discourage all
buying, TO keep the prices from adyano
ing, and thus to tire holders ont, and
make them drop their stocks, But in this the cacula
lions may prove to be much at fault have all the
others OF the bear ciqucs The buyers OF good secur
ties during the last four months have not been who
hang over the quotation tape. They have purchased
them their opinions of merit and not dis
turbed by forced fluctuations That kind OF
done in the "bucketshops where changes OF d2c per
the Stock Exchange quotations close the contracts
with loss profit and more than suspected that the
present leaders at the Stock Exchange larger
In the "Ducketshops" than they do In their
board The market closed dull about the lowest prices
OF the day.
III state bonds Tennessee Gs new and series sold
at G3l2dG4, North Carolina special taxes Mt i6aei6,
Virginia Is deferred receipts at IL, and Alabama Ga
lO-2Os at 1903. OF city bank stocks German-Amercan
sold 800 at IL and Tradesnen's 800 at l05.
spond the bear pressure stock values Missouri.
and Texas IS early sold OFF 70 to s., appar
emily for the purpose OF conveying an ideaof Mr. Gouds
proclivites the market bat the price lily Iecov-
cred TO s54 without Mr. Gous support, against SJ7s
Saturday 6s sold off s. TO 9S, and aftcrward
were 9SIi bid Ere second IS strong at the
late decline with sales at 1OO01OOis. aud closed
quoted 100al004 For sure per cent bond the Erie
6s are selling below their value compared with all
other bonds on the list West Shore As ru. at l0i
01ofla, NewYork Central debenture IS sold up 1904
Rome: WATERFOWL and Ogdensburg 3s firm at o.
Nashville new IS fetched TO- Michigan Central IS SO" Of
1881 sold AZ l0sb st. Paul first 5s, Pacific and Western
sold at 1884, and Boston, IIoosac Tunnel West
ern 5s were strong at $685. Let the Intelligent investor
the prices OF the last named bonds with those OF
Erie second IS and the prospective conditions OF tho
alive merits. The Central Of New-Jersey issues were
about steady without feature Canada Southern second
Georgia gold IS off 9sa Indiana Bloomington
and Western incomes Mr Corbn is the president OF tho
general mortgages were steady at Louisville,
and Chicago cSnsSs were r at ~
1872 but closed at 800 and FIRST Ashland division wero
SO and rsts Chicago division were y lower at ioia
Detroit Mackinac and Marquette land grants sold At so,
lantic and Pacific incomes active and after selling
up to $685. closed unchanged at 377s Northern Pacific
rsts were higher at rs seconds steady at Ioa7 and
rsts of per cent at 3d. and Fort Worth and Den
Of unlisted Securities dealt in at the Stock Exchange
Cotton Seed OF certificates sold 500 5oa 05ois, West
ern National Bank AGO at 10, Kingston and
Paciac arsts S600O) at IOsiaaIOs7a Mexican
National nrss, second instalment paid $4,000 at o64
Rome and Decatur nrsts 81 900 at e94 Boston.
Hartford and Erie-Knowltons-(300 at 5ha5ss. CDurd
Alene 400 at 60. Florida Railway and Navigation pre-
ferred 1OO) at 2as. Brunswick Sound u00) at 81 3d.
Phoenix Mining C250) at 81 l2hs$i, and Security Mill
ing and Mining 1000 at 81 l2i2aS6 37isaS so.
Money was abundant enough at as per cent, but an
opportunity discovered when lenders bad retired
because the demand seemed TO have been supplied sud
denly bid the rate TO 10 per cent for small amounts
The market closed with the representatives OF tho Bank
OF Commerce offering part OF 100000 at per cent
Tho Sub Treasury debtor at the Clearing House
1928, 1919. and II redeemed 5000 trade dollars.
The subIreasury lost on balance $i4 $50. made up Dy
AEON loss of $50 125 less gain OF So The
days operations covered: Rcceip;s. Sl,22 o2%oi pay